Italy June Inflation Rate Revised Down to 1.3%

The annual inflation rate in Italy increased to 1.3 percent in June of 2018 from 1.0 percent in the previous month, lower than a preliminary estimate of a 1.4 percent gain and below market expectations of 1.4 percent. It was the highest inflation rate since May of 2017, boosted by non-regulated energy; unprocessed food and services related to transport.

Year-on-year, prices rose faster for unprocessed food (3.4 percent compared to 2.4 percent in May) while inflation was steady for processed food (1.7 percent, the same as in May). Additionally, cost advanced further for energy (4.2 percent compared to 2.1 percent), driven by non-regulated energy products (9.4 percent compared to 5.3 percent) and services related to transport (2.9 percent compared to 1.7 percent). Also, prices continued to increase for recreation and culture (0.9 percent compared to 0.6 percent); alcoholic beverages and tobacco (3.5 percent compared to 3.4 percent) and health (0.5 percent compared to 0.4 percent) while prices of housing and utilities were flat after declining 0.1 percent in May. In contrast, cost eased for restaurants and hotels (0.9 percent compared to 1.4 percent); clothing and footwear (0.1 percent compared to 0.2 percent) and furniture and household equipment (0.2 percent compared to 0.3 percent).

Annual core inflation rate, which excludes energy and unprocessed food went up 0.8 percent, unchanged from the prior month. Excluding only energy, inflation increased 1.1 percent from 0.9 percent in May.

On a monthly basis, consumer prices rose 0.2 percent, slowing from a 0.3 percent gain in previous month, below than a preliminary estimate of 0.3 percent and lower than market forecasts of 0.3 percent.

The harmonised index of consumer prices edged up by 1.4 percent from the prior year (vs 1.0 percent in May); and by 0.2 percent from the previous month (vs 0.3 percent in May).

Italy June Inflation Rate Revised Down to 1.3%

Istat | Stefanie Moya |
7/17/2018 9:47:04 AM